The pound was almost unchanged against the U.S. dollar in quiet trade on Wednesday, as demand for sterling remained supported by the outcome of last week's vote on Scottish independence, while Tuesday's U.S. manufacturing data continued to boost the greenback.
GBP/USD hit 1.6414 during European afternoon trade, the session high; the pair subsequently consolidated at 1.6394, inching up 0.03%. Cable was likely to find support at 1.6287, the low of September 22 and resistance at 1.6526, the high of September 19.
The pound remained supported as investor focus returned to the outlook for U.K. monetary policy in the wake of last Thursday’s Scottish independence referendum.
Sterling's gains were limited however after data on Tuesday showed that U.K. public sector borrowing increased from a year earlier in August, while a separate report showed that U.K. mortgage approvals fell unexpectedly in August, although the underlying trend was stable.
Sterling was near two-year highs against the euro, with EUR/GBP down 0.18% at 0.7825.
